The Debt Management Office (DMO) on Monday, October 14, 2019 listed the Federal Government of Nigerian (FGN) N15billion Green Bond on the Nigerian Stock Exchange (NSE). The 7-year Green bond issued by the Debt Management Office (DMO) at coupon rate of 14.50percent on June 13, 2019 is due to mature on June 13, 2026.

This Series II Green Bond issued to finance renewable energy, afforestation, and transportation projects, follows the debut Sovereign N10.69billion Green Bond that was issued in December 2017 and listed on the NSE in July 2018.

Commenting on the listing, Jude Chiemeka, Head, Trading Business Division, NSE, said, “We are pleased to admit the Series II FGN Green Bond to our Green and Sustainable Bond Market. Our collaboration with the Ministry of Environment (MOE) and the DMO on deepening the Green Bond market, which dates back to 2016, reinforces the Exchange’s commitment to position Nigeria as a financial center for green and sustainable financing. The recent partnership with the Luxembourg Stock Exchange (LuxSE) further demonstrates NSE’s passion to provide enabling environment for issuers and investors in the Nigerian capital market. The Exchange will continue to work with key stakeholders in transitioning to a low-carbon and sustainable economy as well as develop innovative products and services in close collaboration with the market”.

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Chiemeka also lauded the Minister of Environment and the Management of the DMO on the successful issuance of a second Green Bond; a laudable feat in addressing environmental challenges and fostering sustainable financing in Nigeria.

Nigeria’s participation in the Green bond market is in line with the Federal Government’s commitment to achieving its Nationally Determined Contributions (NDC) under the Paris Agreement on Climate Change signed in September 2016.

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By Iheanyi Nwachukwu • October 15, 2019

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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